According to the recently released report by Bekryl, ‘Global Commercial Drones Market’ is set to register 18.3% CAGR to create 4.5X higher revenue opportunity in 2028 than that in 2019. In terms of volume, commercial drones accounted for just 7% of total unit sold in 2018. However, generates 64% of revenue for industry players.

According to the recently released report by Bekryl, ‘Global Commercial Drones Market’ is set to register 18.3% CAGR to create 4.5X higher revenue opportunity in 2028 than that in 2019. In terms of volume, commercial drones accounted for just 7% of total unit sold in 2018. However, generates 64% of revenue for industry players.

Advancement in technology has significantly boosted overall growth prospects. Moreover, the industry is expected to rely on product innovation (R&D) over the next 10 years to commercialize the market. As such, companies are spending heavily on R&D, which in turn will create higher incremental opportunity for industry players. Other key global commercial drones market trends that will significantly boost the overall demand are advancement in aerial imagery, air surveillance, and deployment of advanced sensors. By 2020, it is expected that commercial drones market will witness nearly 20% decline in its prices owing to automation in manufacturing along with easy procurement of raw materials in Asia Pacific. This will significantly boost the overall sales of the product.

Globally, North America commercial drones market size dominated the sales in 2018. However, the region will lose major market share to Asia Pacific by the mid of the forecast period (2023). Much of the sales in the region is concentrated for military purpose.

Rotary blade commercial drones accounted for 74.8% of total share in 2018. High usage of drones in aerial surveillance has led to increased demand for rotary blade drones. Nano-type will gain significant traction – registering fastest CAGR during the forecast period.

Trend#2: Majority of Commercial Drones are Deployed Across Government Sectors

Among applications, government sector will account for maximum share. However, will lose significant market to other emerging applications. As of 2018, commercial drones for government applications accounted for over 77% global share. Logistics sector will register fastest CAGR during the forecast period. Agriculture sector too will register significant growth. Commercial drones could potentially replace technologies such as IoT sensors and will be used to support precision farming especially in china, India and developed regions.